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Accenture plc (ACN) rating downgrades by Deutsche Bank

Accenture plc’s filing revealed that its Director PELISSON Gilles unloaded Company’s shares for reported $2.24 million on May 13 ’24. In the deal valued at $308.02 per share,7,288 shares were sold. As a result of this transaction, PELISSON Gilles now holds 0 shares worth roughly $0.0.

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Then, Shook Ellyn sold 5,000 shares, generating $1,536,112 in total proceeds. Upon selling the shares at $307.22, the Chief Leadership & HR Officer now owns 13,699 shares.

Before that, Unruch Joel sold 4,333 shares. Accenture plc shares valued at $1,369,733 were divested by the General Counsel/Corp Secretary at a price of $316.12 per share. As a result of the transaction, Unruch Joel now holds 30,702 shares, worth roughly $8.65 million.

Deutsche Bank downgraded its Accenture plc [ACN] rating to a Hold from a a Buy in a research note published on May 15, 2024; the price target was decreased to $295 from $409. A number of analysts have revised their coverage, including Susquehanna’s analysts, who decreased its forecast for the stock in late March from “a Positive” to “a Neutral”. Guggenheim began covering ACN with “Buy” recommendation on March 19, 2024. Mizuho started covering the stock on January 30, 2024. It rated ACN as “a Buy”.

Price Performance Review of ACN

On Monday, Accenture plc [NYSE:ACN] saw its stock fall -0.19% to $281.76. Over the last five days, the stock has lost -6.39%. Accenture plc shares have fallen nearly -19.71% since the year began. Nevertheless, the stocks have fallen -7.68% over the past one year. While a 52-week high of $387.51 was reached on 03/07/24, a 52-week low of $278.69 was recorded on 05/31/24. SMA at 50 days reached $313.68, while 200 days put it at $331.71. A total of 3.59 million shares were traded, compared to the trading of 6.88 million shares in the previous session.

Levels Of Support And Resistance For ACN Stock

The 24-hour chart illustrates a support level at 279.14, which if violated will result in even more drops to 276.52. On the upside, there is a resistance level at 285.95. A further resistance level may holdings at 290.14. The Relative Strength Index (RSI) on the 14-day chart is 22.19, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -16.39, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.86%. Stochastics %K at 7.22% indicates the stock is a buying.

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